V Square Quantitative Management LLC Sells 405 Shares of Starbucks Co. (NASDAQ:SBUX)

V Square Quantitative Management LLC cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 14.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,305 shares of the coffee company’s stock after selling 405 shares during the period. V Square Quantitative Management LLC’s holdings in Starbucks were worth $225,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Onyx Bridge Wealth Group LLC bought a new stake in Starbucks in the third quarter worth approximately $226,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Starbucks by 4.5% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 127,248 shares of the coffee company’s stock valued at $12,405,000 after acquiring an additional 5,534 shares in the last quarter. Harbour Capital Advisors LLC bought a new position in Starbucks during the third quarter worth $230,000. Cardinal Capital Management boosted its stake in Starbucks by 2.1% during the third quarter. Cardinal Capital Management now owns 82,144 shares of the coffee company’s stock worth $8,008,000 after acquiring an additional 1,672 shares in the last quarter. Finally, Trifecta Capital Advisors LLC grew its holdings in Starbucks by 0.7% in the third quarter. Trifecta Capital Advisors LLC now owns 29,139 shares of the coffee company’s stock worth $2,841,000 after purchasing an additional 214 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SBUX shares. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a report on Wednesday, August 21st. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. JPMorgan Chase & Co. raised their price objective on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and boosted their target price for the stock from $80.00 to $110.00 in a research report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $102.44.

Starbucks Trading Up 1.6 %

NASDAQ:SBUX opened at $96.84 on Monday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The firm’s 50 day moving average is $94.90 and its 200 day moving average is $84.67. The stock has a market capitalization of $109.69 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 2.08 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same period in the previous year, the company posted $1.00 earnings per share. The business’s revenue was down .6% on a year-over-year basis. Research analysts predict that Starbucks Co. will post 3.55 earnings per share for the current year.

Insider Activity

In related news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.